November 8, 2024
We examine the current state of European corn futures on the Euronext exchange, focusing on the four stages of the market structure: accumulation, markup, distribution, and decline. Using a weekly line chart for clarity, we explore whether we’re still in a stage 4 decline or possibly transitioning into a new accumulation phase. The chart highlights critical levels, such as the $200 resistance and the significant $170 support, raising the question of what lies ahead for this market. Could these trends be signaling a shift in European corn prices?
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